Integrated Energy Services (IES)

Two men in blue overalls working with drilling equipmentIntegrated Energy Services (IES) provides an integrated service for clients under flexible commercial models that are aligned with their requirements.

Our projects cover upstream developments - both greenfield and brownfield, related energy infrastructure projects, and can include investment.

Our priority continues to be to manage the IES portfolio to maximise value.

IES deploys the Group's capabilities using a range of commercial frameworks, including:

 

Delivering on our strategy priority to reduce capital intensity

  • In June 2018, we agreed the sale of our entire 45% interest in the Chergui asset in Tunisia to Perenco, expected to conclude before the end of the year.
  • In July 2018, we signed an agreement to sell 49% of our operations in Mexico to Perenco. The transaction is subject to approval by the Federal Competition Commission of Mexico, which is expected in Q4 2018.
  • In August 2018, we agreed the sale of our 20% interest in the Greater Stella Area development and 24.8% interest in the FPF1 floating production facility.

These agreements mark further milestones in the Group’s strategy to transition back to a capital light business model.

 

Summary of key IES projects